Trump starts new agency to collect foreign money and slaps a fantastic name on it!

The president-elect announced plans to start a new agency on his first day in office that proponents for a smaller government could get behind.

Much ado has been given in the post-election weeks to President-elect Donald Trump’s plan to start a Department of Government Efficiency with Elon Musk and Vivek Ramaswamy aiming for $2 trillion in cuts to the federal budget. Now, in addition to steps toward fiscal responsibility, the GOP leader announced his intention to make foreign nations pay “their fair share” with a new External Revenue Service.

Taking to Truth Social Tuesday, Trump began, “For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves.”

“It is time for that to change. I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources. We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,” added the once and future commander-in-chief. “January 20, 2025, will be the birth date of the External Revenue Service. MAKE AMERICA GREAT AGAIN!”

Image via Truth Social

Currently, U.S. Customs and Border Protection is responsible for tariff collection when imported goods enter the country.

The president-elect has maintained his position that tariffs were coming for Canada and Mexico if they don’t act on the illegal passage of drugs and people across their respective borders with the United States, proposing rates up to 25% on all goods.

He also threatened additional tariffs on China at 60% or more and potential tariffs on the European Union.

Bloomberg detailed a plan according to people familiar with deliberations that would gradually increase the tariffs over a number of months in hopes of adding leverage to negotiations while steering clear of spiking inflation.

“One idea involves a schedule of graduated tariffs increasing by about 2% to 5% a month, and would rely on executive authorities under the International Emergency Economic Powers Act,” reported the outlet, noting the idea had yet to be presented to the president-elect.

While some have bucked the plan, CBS News reminded, “Federal law allows presidents to adjust tariffs based on stated threats to national security, or to remove the practice of a foreign government that the U.S. believes is violating an international trade agreement or is unfair or discriminatory. Trump heavily relied on his tariff authority in his first term, and President Biden’s team didn’t undo all of his tariffs. The Biden administration even imposed additional tariff hikes, including a 100% duty on electric vehicles from China.”

Meanwhile, the president-elect’s language left many hopeful that the proposed ERS would be a first step toward abolishing the IRS and potentially even the end of the 16th Amendment.

Kevin Haggerty

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